OIL & GAS
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Nigerians pay N5.7tr for darkness eight years after privatisation
• Payment for transformers, wires, poles persist as supply averages 4,000MW • Fashola, Mamman, El-Rufai, NASS, others’ attempts fail to…
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NNPC admits hitches in depots, dismisses price hike rumour
The Nigerian National Petroleum Corporation has admitted that there are pricing issues at some petrol depots in the country but…
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Nigeria’s $510m gas flare in days higher than host-community allocation
•US, AfDB, Osinbajo back funding projects •Award of 45 gas flare licences in limbo four years after Nigeria has, in…
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Diesel landing cost rises to N336.45/litre, say marketers
The pump price of Automotive Gas Oil, also known as diesel, may rise further as the Major Oil Marketers Association…
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FRC probes NNPC, banks, PFAs’ financial statements, summons officials, auditors
The Financial Reporting Council has said it has reviewed the infractions it found in the financial statements of the Nigerian…
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‘Cooking gas price hike threatens domestic market’
The Chief Executive Officer of Ecogas Energy Resources Limited, Chief Shina Luwoye, has said the surge in the price of…
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NNPC, marketers inflated imported petrol figures under Buhari, Jonathan – Sanusi
A former Governor of Central Bank of Nigeria, Lamido Sanusi, said on Tuesday that petrol imports figures were inflated when…
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Fuel demand to hit 17.3 million MT by 2025 – NNPC
The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, has said Nigeria’s demand for petroleum products is…
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FG to end petrol subsidy June 2022, World Bank condemns N2.9tn funding
The World Bank has decried the continued spending by the Nigerian government on petrol subsidy, which it said is on…
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IPMAN raises the alarm over members’ fund trapped in DPR, others
The Independent Petroleum Marketers Association of Nigeria, on Friday, said it had engaged forensic experts to recover the funds of…
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77 million Nigerians lack access to power, says NNPC
The Nigerian Bulk Electricity Trading Plc on Thursday provided statistics on misalignments in the power value chain, saying that about…
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FG’ll retain 1,500 staff of defunct PPPRA, DPR, PEF – Sylva
The Federal Government is to retain the about 1,500 employees of the defunct Department of Petroleum Resources, Petroleum Products Pricing…
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Gencos lose N1.66tn over non-payment for unused power
Power generation companies in Nigeria have said they suffered a loss of N1.66tn in seven years as a result of…
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Blocking funding for gas projects by DFIs worrisome – Osinbajo
Vice President Yemi Osinbajo has expressed concern over development finance institutions and some countries insisting that gas projects should be…
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Energy Correspondents Host Policy Debate On Nigeria’s Energy Future
The apex body of specialized reporters covering the Nigerian energy industry will in November 2,2021 provide a credible platform for…
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FG scraps DPR, PPPRA, PEF, sacks CEOs, inaugurates new agencies
The Department of Petroleum Resources, the Petroleum Products Pricing Regulatory Agency and the Petroleum Equalisation Fund are all officially scrapped…
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750,000MT supply gap, forex shoot cooking gas above N8,000
The price of 12.5kg of Liquefied Petroleum Gas, popularly called cooking gas, which was sold for N7,000 about a week…
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PIA: Fuel, gas levies can’t fund infrastructure, says stakeholders
The levies stipulated in the Petroleum Industry Act to be paid by operators in the midstream and downstream sectors of…
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Nigeria’s oil output 360,000bpd lower than OPEC quota
Nigeria saw its crude oil production increase slightly last month to about 1.25 million barrels per day, which is 360,000…
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Eight-month fuel imports gulp $690m amid forex scarcity
As Nigeria’s refineries continue to sit idle, fuel imports remain a major user of foreign exchange as $690.19m (about N285.95bn,…
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